Recent content by Fat Mal

Feel the pain IP1 in Perth was $450 last year, dropped to $400 to get tenanted. Now vacant again asking $380 ATM. IP2 in Perth been getting $450 for last 3 years. Now vacant with $400 listed with maybe a tenant. Lucky rates are low. Both ex tenents built new homes.

Anybody see this http://www.abc.net.au/news/2015-05-05/builder-dale-alcock-sheds-jobs-in-wa-as-new-homes-numbers-drop/6446902?section=wa Job losses in the housing sector as well.

Yes I can relate to what this bloke is saying. Had 1 IP sit vacant for 6 weeks & dropping it in increments of $10 at a time to get someone in there. Ended up $50 less a week than what I originally was getting 6 weeks prior. Mind you I am not complaining, had it rented for 4 years straight before...

I looked at numerous properties around cannington in the first 4 months of this year & finally settled on a villa in a neighbouring suburb. All my research including advice from my PM led me to believe that East Cannington & Beckingham was where the crime was & to avoid. There is a pocket which...

This same mob said 2-3 years ago that Perth market is at the bottom & will rise 15% over the next 2 years. It actually went the other way. I take what they write with a pinch of salt.

@Fat Mal: Mine is a Premium Select Home Loan - Contract does say Interest only for 5 yrs. I'm just not sure why the website's Repayment amount shows both P+I repayment amount.. kinda worried now.. :confused: I have had loans on & off with BW for 20 odd years, I have noticed the last...

Was that the Online Bank Loan. If it was I asked for IO & they made mine P&I for some reason.

Matt You are well aware of the downfalls of Armadale. There are some really good pockets in there, like Seville Grove around Brown Crescent area

Bankwest 2 year fixed rate 5.99% 4 year fixed rate 6.49% The 4 year one is looking alright, but might wait a little longer for a hopeful lower rate

I rang Centrelink about this exact same thing last week. They told me you add your rental losses to your salary & that is your assesable income for the Family tax. I could not work out why you are assesed on you losses, but CL says so you can't claim twice GO FIGURE

OK Does this mean I am then should pay the total amount of tax on $75 000 not on $90 000 & the extra is reimbursed the ATO. In this case the $5425 + $5550 or am I thinking my way down the wrong path. Mal

Can someone please explain to me the benefits of reducing income tax through negative gearing please. I'll work in round figures as an example Salary $90 000 Holding costs of rental say $15 000 So $15 000 x 37% = $5550 (Reimbused by ATO) $90 000 - $ $15 000 = $75 000 as a new estimated...

Looking at possibly buying an IP in Geraldton but don't quit know where to start looking. What areas should I avoid & what areas should I focus on. Thanks for any input in advance Mal

Bribery with a startin carton & finishin carton

Barry Additional information for you, had an IP property there 18 year ago when I first started out. Nothing but trouble - breakins, late rent, tenants doing runners. Nothing has changed in 18 years either. Mal